A Corporation paid dividends per share of $3.56 in 2009, and dividends are expected to grow 5.5% a year forever. We assume that the cost of equity is equal to the Treasury bond rate, i.e. 6.25% increased by 495 bps. 1. What is the value per share, using the Gordon Growth Model? 2. The stock is trading for $80 per share. What would the growth rate in dividends have to be to justify this price?